Electoral Bonds Case Hearing : Live Updates From Supreme Court

Sibal: What is anonymous about this? This is protecting the rich.

Sibal: He doesn't have to go to State Bank of India. Let's talk practical politics. He doesn't have to go to SBI to find out. The person who gave it will disclose it. Because he knows why he gave it

CJI: The anonymity would exist only if it was truly fungible. In which case, if it is truly fungible like a DMAT account, you give it to ECI- then it becomes anonymous.

Sibal: Yes, now it is not anonymous

Sibal: Pardon me for saying this from personal experience- if people donate, we know who is donating. He would give me a call saying sir I want to come over. I'll hear him. But if I don't know his name how will I hear? So you get access.

Sibal: All this anonymity is really not anonymous because the person who donates will go and tell him orally that I gave you such and such money.

Sibal: The corporate sector which doesn't vote, isn't a voter, can donate 10 crores and not disclose. What's the rationale for that? As a citizen, my name will be disclosed. So is the corporate sector being granted a privilege of anonymity over the citizen?

Sibal: If it is less than 2000 rs it is cash, if it is more than 20,000 rs the donors name would be given but if it is Electoral Bonds then nothing?

Sibal: The corporate sector isn't the voter. The citizen is the voter.

Sibal: Rather than furthering rule of law, it stymies it.

Sibal: You never know who bribed whom, how much was the bribe, what quid pro quo was there - you never get to know.

Sibal: This is a scheme to protect criminals from being prosecuted. Please read Section 7 of the Prevention of Corruption Act. This is also true under the PMLA. Because a predicate offence has been committed but no proceeds of crime - you'll never know

Sibal: I can understand the corporate sector being told that we impose a cess like education cess. With that cess you have capital. And capital you distribute in accordance with representation in LS so everyone has same amount. This isn't that.

Sibal: The fifth point is that the nature of the scheme protects those who have committed a crime

Sibal: Under Sec 7 of POCA, you give money to a public servant. MPs are public servants. Under Sec 7 you can also prosecute a person in anticipation of a favour.

Sibal: If required the account can be closed anytime by the political party.

Justice Khanna: What are you hinting at?

Sibal: You close the account that's the end of the matter my lord. Take the money, close account, spend it how you want.